"Your Excellency will perceive, that when this plan, so well concerted, shall be fully executed, it will furnish the United States with resources equal to all the exigencies of the war, and probably enable them to supply his Catholic Majesty with vessels, &c, &c. "I take the liberty, therefore, of submitting to your Excellency's consideration, whether it would not be for the benefit of both nations, that his Majesty, on the one hand, should engage his responsibility for the credit of a certain proportion of the sum so to be emitted; and that the United States, on the other hand, should not only pledge their faith to indemnify his Majesty, but also furnish him with certain aids in vessels, &c. "If your Excellency should think this hint worthy of your attention, it will be easy to improve it, and adjust the particulars. "I have the honor to be, &c. JOHN JAY." This letter was accompanied with the following one, on the subject of some more bills that had just arrived. "Mr Jay presents his respectful compliments to his Excellency the Count de Florida Blanca, and has the honor of informing him, that he has been called upon to accept bills to the amount of between ten and eleven thousand dollars; that the far greater part of them belong to Messrs Joyce of this city, who have agreed to wait for an answer until Monday next. "Mr Jay exceedingly regrets his being obliged to give his Excellency so much trouble, but still flatters himself, that, when his Excellency considers it as his duty which imposes that necessity upon him, his goodness will excuse it. _Madrid, June 28th, 1780._" I ought also to add, that I had sent to the Count a representation on the subject of a very high handed stretch of power in the Governor of Teneriffe, towards a prize carried there by some Americans. On the next day I received the following answer to these three papers. Translation. "Aranjues, June 29th, 1780. "The Count de Florida Blanca has had the honor of the three last letters, which Mr Jay has been pleased to write him. "The first relates to a privateer detained in the Canaries. On this point he can say nothing until he has obtained some further information thereon.